PETERBOROUGH, ONTARIO--(Marketwired - Oct. 12, 2016) - The Government of Canada values the role of post-secondary institutions as they help equip young Canadians with the education and training they need for future careers that will help them join a strong, healthy middle class. Today's $8.07-million investment at Trent University will do just that by fostering the training needed for the well-paying middle-class jobs of today and tomorrow.
The funding was announced today by the Honourable Maryam Monsef, Minister of Democratic Institutions, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and by the Honourable Jeff Leal, Ontario's Minister of Agriculture, Food and Rural Affairs.
The Government of Canada's Innovation Agenda aims to make this country a global centre for innovation-one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment exemplifies that vision in action.
The funding will be used to renovate two floors of the University's Bata Library and create the Bata Research and Innovation Cluster. The facility will include research and innovation space designed to enhance and foster student entrepreneurship, new businesses, research on aging and the environment, and collaboration with Indigenous peoples and communities. Of the $8.07-million investment, the Government of Canada will provide $7 million and the Province of Ontario will provide $1.07 million. Trent University and other partners will provide additional funding of nearly $6 million.
In total, universities and colleges throughout Ontario will receive more than $1.9 billion from the Government of Canada, the provincial government, the institutions themselves and private donors. Federal funding will be allocated through the Post-Secondary Institutions Strategic Investment Fund, which will enhance and modernize research facilities on Canadian campuses and improve the environmental sustainability of these facilities.
As a result of these investments, students, professors and researchers will work in state-of-the-art facilities that advance the country's best research. They will collaborate in specially designed spaces that support lifelong learning and skills training. They will work in close proximity with partners to turn discoveries into products or services. In the process, they will train for-and invent-the high-value jobs of the future. And their discoveries will plant the seeds for the next generation of innovators.
That is how the Strategic Investment Fund will jump-start a virtuous circle of innovation, creating the right conditions for long-term growth that will yield benefits for generations to come.
Ontario is making the largest investment in public infrastructure in the province's history-about $160 billion over 12 years-which is supporting 110,000 jobs every year across the province with projects such as hospitals, schools, roads, bridges and transit. Since 2015, the Province has announced support for more than 475 projects that will keep people and goods moving, connect communities and improve quality of life. To learn more about infrastructure projects in your community, go to Ontario.ca/BuildON.
"This once-in-a-generation investment by the Government of Canada is a historic down payment on the government's vision to position Canada as a global centre for innovation. That means making Canada a world leader in turning ideas into solutions, science into technologies, skills into middle-class jobs and start-up companies into global successes. This investment will create conditions that are conducive to innovation and long-term growth, which will in turn keep the Canadian economy globally competitive."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"I'm thrilled to announce this funding under the Strategic Investment Fund for Trent University, which will continue to build on a strong tradition innovation here in Peterborough-Kawartha. Investments like these will support our world-class researchers at home, while positioning Canada as a global leader in research excellence and innovation. Through the Strategic Investment Fund, we are providing Canada's students with the education and training they need to join a strong, healthy middle class."
- The Honourable Maryam Monsef, Minister of Democratic Institutions
"Our government is proud to support this important project, which will give Trent students access to a renewed and upgraded facility in their new Bata Research and Innovation Cluster. We know that providing access to high-quality education and training facilities is critical to building the highly skilled workforce we need to support good jobs and economic growth for today and tomorrow, and this investment will help us to do it."
- The Honourable Jeff Leal, Ontario's Minister of Agriculture, Food and Rural Affairs
"This significant investment in the infrastructure of our Symon's Campus will build on Trent's renowned interactive learning and research model through state-of-the-art infrastructure and environmentally sound design. The funding received from the federal and provincial governments, combined with the generosity of our donors, will revolutionize the research and collaborations that take place at the Bata Library as it becomes a third millennium research, innovation and entrepreneurship hub."
- Dr. Leo Groarke, President and Vice-Chancellor, Trent University
- The Government of Canada and the Government of Ontario are providing more than $950 million for research infrastructure at institutions across Ontario. Trent University has been awarded $7 million by the Government of Canada for this project.
- The Government of Canada's recently launched Innovation Agenda is designed to ensure Canada is globally competitive in promoting research, translating ideas into new products and services, accelerating business growth and propelling entrepreneurs from the start-up phase to international success.
- The targeted, short-term investments under the Post-Secondary Institutions Strategic Investment Fund will promote economic activity across Canada and help Canada's universities and colleges develop highly skilled workers, act as engines of discovery, and collaborate on innovations that help Canadian companies compete and grow internationally.
- The Post-Secondary Institutions Strategic Investment Fund supports the Government of Canada's climate change objectives by encouraging sustainable and green infrastructure projects.
Follow Minister Bains on social media.